Intermediate > Advanced Cash Flow Training / Workshop

Intermediate > Advanced Cash Flow Training / Workshop

This significantly expanded and extended Module is a response to the perceived need of the valuation and property profession for extended capabilities in the area of assessing return and risk of individual property investments and developments. This perception of need is based upon the realisation that thorough “micro” understanding is an essential prerequisite of a comprehensive range of activities of valuation and property professionals and that of allied professions.

It is intended to transform competent users of Cash Flow techniques up to the stage where they can launch themselves at a comprehensive range of “personalised” applications required by property and allied professionals and the organisations that they work in.

This course will provide you with advice on the detailed construction and application of Cash Flow and Discounted Cash Flow spreadsheets, applying sound technical knowledge and using best practice construction techniques. There is a strong emphasis on theoretical soundness, automated cross checking, security, and removal of the strait jacket of proprietary or other in house applications.

Who should attend?
The workshop is aimed at three overlapping groups of participants:

• Those who have attended the API 3 Days Beginners Cash Flow Workshop who wish to turbo-charge and extend the basic skills set developed during those workshops.
• People who write spreadsheets involving Cash Flow and Discounted Cash Flow techniques in valuation, property management, property investment sales, purchases and leasing, investment analysis or who are involved in preparing financial feasibility studies.
• Advanced users wanting confirmation or ideas on how to modify and extend their techniques and gain added capabilities and exposure to advanced knowledge and ideas.

What does the course provide?
Understanding and implementation techniques for:

• the key concepts of cash flow and discounted cash flow in a property context and especially how to implement that understanding in the way that you and / or your organisation wants to implement it;
• addressing the conceptual flaws of Discounted Cash Flow in the context of rigorous valuation, investment analysis, and property development financial appraisal;
• market environment / real world based modifications of approaches that achieve relevant and appropriate measures of return on complex investments and developments especially those involving debt finance;
• current risk assessment techniques and especially the limitations and flaws of those techniques; and,
• risk appraisal of complex investments and developments.

Extensive course text and USB reference materials:

• text materials that are designed for later recall, use, and reference;
• a copyright free “blank” standard workbook with easy to call and use additional functions written for valuation and property professionals in Australia;
• essential data refining, analysis, and extraction tools;
• tools and references for researching and finding solutions for Excel problems.
• tools for extracting from workbooks, transmitting extracts, and preserving extracts or complete Excel workbooks in a secure form;
• security advice and resources that raise awareness of limitations and dangers of all too common office practices;
• live and copyright free versions of all workbooks and tools provided, used, or referred to during the course;
• key workbooks used during the course are heavily annotated with explanations and highlighting of particular formulas or construction techniques

Upon completion of the course and with the reference materials delegates will:

• understand the concepts and assumptions behind NPV and IRR measurement and be able assess appropriateness of those techniques and how to implement them;
• understand and be able to implement rigorous and conceptually valid discounted cash flow and cash flow treatments to standard and non-standard investments and developments;
• be able to develop date based discounted cash flow and cash flow treatments of standard and non-standard investments, loan amortisation and developments;
• gain insight into and be able to evaluate the requirements, processing, and output of proprietary investment valuation, analysis and financial feasibility programs;
• start on the path towards developing custom designed programs that can facilitate and automate whatever are their daily or frequently required spreadsheet applications; deal competently with (and with understanding of) the complex issues such as multiple rates of return, modified internal
• rates of return, financed cash flows, date based cash flows, and loan amortization schedules;
• ensure (and be able to certify) compliance with the key Valuation and Property Standards and especially the International Valuation Standards Committee Discounted Cash Flow Guidance Note;
• be able to understand and write appropriate exclusions, limitations and provisos for incorporation into spreadsheets and references to them in professional reporting contexts.
• have access to advanced spreadsheets for a variety of applications which may be used as a basis for day to day use or as a basis for copying and adaptation; and,
• after the course delegates have access to like-minded professionals with whom they may network and discuss mutual problems.

During this three day program:

• ample time is allowed for hands on access to foundation workbooks and to use some of the more important construction techniques;
• ample time is allowed for networking;
• delegates are invited to raise questions throughout and especially raise questions regarding their current difficulties with spreadsheets.

Presenter: Norman Harker FAPI, Senior Lecturer, UWS
Norman is an internationally acknowledged expert in the use of Excel for financial purposes. A practising valuer biased academic, Norman has been a leading and popular presenter of CPD programs for the API since their inception.

What past delegates said about the previous Intermediate > Advanced Module:

• “Very worthwhile, other staff will be attending.”
• “Possibly one of the most effective & well constructed lectures attended.”
• “Fantastic, well worth it, this guy is a legend.”
• “Presenter knew work well so could answer all questions.”
• “There is always more to know and not enough time.”